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New homes in old neighborhoods

4:23 AM, Jun 7, 2013   |    comments
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JACKSONVILLE, Fla. -- The housing market has gone through turmoil over the past six years. Now signs indicate that the worst may be over and prices going up. Some folks may be thinking once again about buying a new home. 

The non-profit, Operation New Hope, is giving families the opportunity to buy new homes at affordable prices in economically challenged neighborhoods in Jacksonville.

On Phelps Street on the Eastside eight new homes are being built in a small subdivision called Oakland Commons thanks to Operation New Hope. "This is a single car garage. It's private and attached to the home," said James Coggin, Operation New Hope's Project Manager.

The non-profit partners with the City and lenders to build affordable homes in areas of town that are being revitalized. The three and four bedroom homes range in price from $88,000 to $96,000. However, qualified buyers can get half the cost forgiven and move in with only $500 down.

"The catch is that it comes with an affordability period. The program looks to get people into homes long term. So there's going to be a 15 year period that people will have to stay in the homes so they don't have to repay the money," said Coggin.

Operation New Hope is also putting local residents to work like Littlejohn Cox. "At the time I was driving trucks so right now I am here and I got a job. It's good to have a job," said Cox.

Four of the homes constructed by Mastercraft Builders in Oakland Commons are under contract and by the end of summer this area will have some new neighbors. "The neighbors are very excited that their neighborhood is getting a facelift. We've had a very good reception from folks in the area," said Mastercraft Builders Superintendent Chris Simons.

Operation New Hope, helping families and revitalizing broken urban communities one house at a time.

There are income limits to qualify for Operation New Hope Homes. To see if you qualify go to Operation New Hope's Home Qualifying Process worksheet.

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